#加密市场回调

In a leveraged chain liquidation market, the priority of operations should shift from profit-taking to defense.
The characteristic of a deleveraging market is a chain reaction; forced long liquidations can trigger further price declines, leading to more stop-losses being hit. At this point, taking quick profits must be done with spot assets, and leverage should be strictly avoided in high volatility zones. 75000 - 76000 is the core support zone of this round of decline. This area is not only a cost-intensive zone for multiple macro strategy accounts but also a psychological defense level. If the market stabilizes with reduced volume, it is the golden point for left-side positioning; if volume increases and it breaks downward, caution is needed for a secondary retracement toward 70000.

As the US government enters partial shutdown on January 31, the market is facing a liquidity vacuum. The shutdown not only halts economic data releases but also triggers risk aversion sentiment regarding US debt creditworthiness and political instability. The passive strengthening of the US dollar index directly causes a liquidity drain from risk assets like cryptocurrencies. The Federal Reserve’s January meeting kept interest rates unchanged and significantly reduced the rate cut expectations for 2026. Additionally, the nomination of Kevin Woor, the next Fed chair, by Trump, leans toward a cautious and strong stance, which has greatly delayed the expectation of rate cuts, leading to painful re-pricing in the market. Recently released 3 million pages of declassified documents by the Department of Justice have become a source of noise in the crypto world. Rumors involving financial giants and crypto money laundering pathways have caused institutional investors to worry about compliance, prompting some large funds to temporarily exit the market for safety.

This week’s market game has entered the second half. When the political deadlock in Washington will be broken directly determines whether this oversold rebound will be a quick bounce or a prolonged bottoming process. $BTC $ETH